This relates generally to computer systems and more particularly to a computer software method and apparatus for advanced financial applications such as general ledger, inventory, accounts payable, accounts receivable, financial and management reporting, and financial analysis and consolidation.
Corporate software systems generally are divided into two categories. The first, basic financial systems, includes general ledger, accounts receivable and accounts payable systems. These systems include computer worksheets and data bases. The second, advanced financial systems and processes, uses information from the basic financial systems to perform financial analysis and reporting functions.
At present many of the basic financial systems applications reside on micro computer software packages.
Worksheet applications allow the user to keep a two dimensional chart of his financial data on an electronic worksheet. Illustrative of such spread sheet applications is Lotus Development Corporation's LOTUS 1-2-3.RTM.. That program allows the user to set up two dimensional worksheets in the form of a grid made up of horizontal rows and vertical columns. Each intersection of a row or column forms a cell in which data can be stored in the form of numeric data (such as an account balance), text (such as an account name), or arithmetic operators (such as a formula which manipulates the contents of other cells). To enter data into a worksheet, the user will usually enter data via a keyboard, cell by cell. When users employ LOTUS 1-2-3.RTM. to perform more detailed analyses it is likely that they have also created complicated strings of commands (i.e., macros) to facilitate data entry, management and reporting capabilities. Since these macros have been created by specific individuals, they can be difficult to revise should business dictate. More important, because these macros are tailored to a user's personal needs, the application's usefulness across the corporation is limited.
These spreadsheet programs are also limited by their presentation of data in only two dimensions. This often requires considerable reorganization of the data before it can be used in advanced financial systems.
Database packages such as Ashton Tate's dBASE III.RTM. allow the user to keep a financial data base. Frequently, this information is needed for use in a report having a format different from that in which it is stored or in a spreadsheet such as that generated by one of the computer spreadsheets. However, report generation can be tedious and a great deal of data manipulation must be performed in order to load data from a data base into an electronic worksheet. For example, to load data from a data base to an electronic spreadsheet, the user must convert the data into an ASCII file and subsequently download it into an electronic worksheet. When data is downloaded into a worksheet each field must be inserted into a cell. The downloading of data into the worksheet must be done with extreme care, otherwise cells containing formulas may be overwritten.
In addition to the above limitations, personal computer programs also generally lack the capacity to implement complex information management and finance controls such as audit trails and password protection capabilities needed in high-level financial applications.
These programs also have the limitations that they are typing intensive with the result that the user must either acquire reasonable typing skills in order to use such programs efficiently or he must suffer considerable time penalties as he attempts to cope with extensive keyboard input.